Retailer Metro to Sell Indian Assets

Metro plans to sell its Indian operations for up to $1.75 billion, The Economic Times reported, saying Amazon, Thailand’s Charoen Pokphand group, Reliance Retail, Avenue Supermarts, Tata Group, Lulu Group and Samara Capital have approached the German retailer.

Metro has been operating its nationwide chain of 31 large grocery stores since 2003, but intense market competition and large investments to sustain operations has forced the Dusseldorf-based company to sell its interests, the paper reported.

Read the full report: Economic Times.

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Tags: Indian Retail

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.